RTL Group has acquired the 31% of shares in the leading Hungarian broadcaster RTL Klub it did not already own.
It has also bought 100% of a portfolio of seven cable channels, namely Cool, Film+, Film+2, Reflector, Prizma, Sorozat+ and Muzsika TV.
No financial details of the transaction, which is subject to regulatory approval, have been disclosed.
Commenting on the development, Andreas Rudas, RTL Group’s executive VP regional operations and business development Central and Eastern Europe, said: “This transaction gives RTL Group the opportunity to implement its tried-and-tested strategy in Hungary: we will gain full control of our strong flagship RTL Klub and can now rapidly build a complementary family of channels. Given the ongoing audience fragmentation in the Hungarian TV market, this is essential to remain the leading television company of Hungary. RTL Group will continue its cooperation in Hungary with IKO Group on such important areas as production, and Tamás Rákosi will continue to be a Member of the Board of Magyar RTL zrt.”
RTL Klub operates in a market also served by the public broadcasters Magyar Televizió and Duna TV, along with is closest rival TV2.
